Both GunnAllen Financial Inc. and a former top executive are claiming victory after a lengthy arbitration battle that focused on whether the independent broker- dealer had the right to fire David McCoy, its former chief operating officer and national sales director, who was dismissed in 2005.
“It is a far cry from everything we need to do,” but it will help keep homeowners in their homes, Sen. Christopher Dodd said.
Two Senators have introduced bipartisan legislation to protect seniors from “unscrupulous financial advisers.”
A "patchwork of regulators" are "unable or unwilling" to protect the American people, said Sen. Barack Obama.
The bill is expected to pass the House by summer, but will not make it through the Senate, lawyer James Delaplane said.
Mutual Service Corp. faces at least one arbitration claim for allegedly failing to supervise a mortgage broker whose practice collapsed last September under the weight of a nearly $30 million fraud.
For nearly a decade, Jon E. Drucker has been a thorn in the side of Ameriprise Financial Inc.
The Securities and Exchange Commission charged the vice chairman of the International Securities Exchange and two financial consultants with alleged insider trading.
Republicans plan to introduce a bill that would make compliance with some provisions of Sarbanes-Oxley voluntary for banks.
Federal Deposit Insurance Corporation chairperson Sheila Bair said most financial institutions remain well capitalized.
Disciplinary histories would be included in plain English brochures.
Brent Nelson's nightmare experience with state securities regulators began last May when, out of the blue, he received a letter from Ohio's Division of Securities telling him his license had been suspended.
Raymond James has won a $1.75 million arbitration claim against Cantor Fitzgerald.
Officials have testified that the time is right for a federal insurance regulator.
Insurer settles with California over allegedly inappropriate fixed annuity sales.
A broker who was recently booted from the securities industry has cost Next Financial Group Inc. and Raymond James Financial Services Inc. dearly — with the two firms paying out almost $850,000 to settle cases involving clients who got burned.
The SEC, FINRA and NASAA will seek input on firms’ best practices to protect senior investors.
A survey finding that arbitration customers do not believe the process is fair was “inconsistent,” FINRA said.
Most participants did not believe that the process was fair to all parties and were not satisfied with the outcome.
The Senate is planning to vote on a $160 billion version of the stimulus bill tomorrow.
